Q3 2024 EPS Estimates for CGI Inc. Decreased by Raymond James (NYSE:GIB)

CGI Inc. (NYSE:GIB) (TSE:GIB.A) – Analysts at Raymond James cut their Q3 2024 EPS estimates for CGI in a research report issued on Wednesday, May 1st. Raymond James analyst S. Li now anticipates that the technology company will post earnings of $1.39 per share for the quarter, down from their prior estimate of $1.42. The consensus estimate for CGI’s current full-year earnings is $5.59 per share. Raymond James also issued estimates for CGI’s Q4 2024 earnings at $1.39 EPS, FY2024 earnings at $5.56 EPS and FY2025 earnings at $6.07 EPS.

Several other equities research analysts have also recently commented on the stock. StockNews.com cut shares of CGI from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. TD Securities raised CGI from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, CIBC dropped their price target on shares of CGI from $169.00 to $165.00 and set an “outperformer” rating on the stock in a research report on Thursday, May 2nd.

CGI Price Performance

NYSE GIB opened at $103.70 on Monday. The firm’s 50 day moving average is $109.62 and its 200-day moving average is $107.04. The company has a quick ratio of 0.86, a current ratio of 1.17 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $24.09 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93. CGI has a 12-month low of $93.07 and a 12-month high of $118.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GIB. Exchange Traded Concepts LLC lifted its holdings in CGI by 471.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 263 shares of the technology company’s stock worth $26,000 after purchasing an additional 217 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of CGI in the third quarter valued at about $394,000. Bank of New York Mellon Corp grew its stake in shares of CGI by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 278,213 shares of the technology company’s stock valued at $27,401,000 after acquiring an additional 3,153 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CGI by 10.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,762 shares of the technology company’s stock worth $4,135,000 after purchasing an additional 3,881 shares in the last quarter. Finally, Advisor Partners II LLC boosted its holdings in CGI by 5.1% in the 3rd quarter. Advisor Partners II LLC now owns 10,309 shares of the technology company’s stock valued at $1,015,000 after purchasing an additional 499 shares during the period. Institutional investors and hedge funds own 66.68% of the company’s stock.

CGI Company Profile

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.